Phil's Property Corner
August Market Update
Thank you for your continued support as a referral partner with Candour Property Group. I have included my Monthly Market Update below.
It’s been another month of positive news for the Perth property market with many indicators moving in the right direction.
The number of Perth properties listed for sale is continuing to decrease, down from over 15,000 properties for sale at the beginning of 2017 to 13,256 in the week ending August 8th. Property sale volumes are steadily rising as well, helping to chip away at the amount of stock on the market.
Perth suburbs that have been historically good indicators of a positive change in the market have also been leading the way on increased sales activity – you can find a great article on that here. This has long been considered an early barometer for an upturn in the Perth market.
Nine News had an interesting story on the market, you can find it here. You’ll notice they talk a lot about the far-north suburbs of Yanchep and Alkimos, we suggest that you show caution with these locations for exactly the reasons that they reference later in the video - being close to quality amenities, close to public transport links and upgrades on transport networks. In many cases the suburbs that far north do not do well on these points. The price point is often low, however there is a huge amount of land supply to continue flooding these markets. That generally puts a significant hand-brake on future capital growth.
When looking to take advantage of a market in transition from a downturn to a growth phase it is important to understand the drivers that have historically driven price growth and rental yield improvements. We provide you with the analysis behind why we feel a location is an excellent place for a property investment and whether it is suited to your financial situation. In markets like this purchasers often follow the crowds and don’t maximise their returns, we help our clients recognise the areas that are primed for growth and strong rental yields. As a result, the investment property usually has a positive cash flow and purchased for well under the current market value, priming it to take advantage of the improvement in the property market.
If you would like to know more the first step is to have a chat with Phil Bertram who can book in an appointment for you to find out how this works for your financial position. There is no obligation to proceed any further and he doesn’t charge for his time.
To arrange for him to call you please email him with your name and contact number on firstname.lastname@example.org and he’ll be in touch. Or feel free to call him directly on 0477 228 803.
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You can find all previous Market Updates here.